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Simpson Supports Debt Reduction Plan

Forces balanced budget vote and over $2 trillion in savings

Washington, August 1, 2011
Forces balanced budget vote and over $2 trillion in savings

 Idaho Congressman Mike Simpson, a senior Member on the House Budget Committee, joined his colleagues in passing the amended Budget Control Act of 2011 to avoid the possibility of defaulting on the debt.  The bill passed in the House 269-161 .

“Does this legislation solve all our problems? No it does not,” said Simpson, “but we have to ask: does it move us in the right direction? Does it begin fixing the enormous fiscal imbalance in our federal government? And, does it bring some certainty to our markets? It does. That’s why I supported it.”

The legislation cuts $917 billion in spending and raises the debt ceiling by $900 billion, then requires that deeper cuts take place and a balanced budget amendment vote occurs before any further debt ceiling increase takes place.

“It is important to realize that the entire debate over federal spending and the debt has changed over the last seven months. One year ago, before Republicans gained the majority in the House, President Obama would have received a blank check from Congress to continue spending while raising the debt ceiling.” said Simpson. “I could have chosen any number of reasons to oppose the bill, but in the end it puts us on a path to fixing our debt crisis and boosts our economy by preventing the possibility of a default and ensuring Social Security checks, active military paychecks and veterans benefits go out on time. It does all this without raising taxes.”

Congressman Simpson had previously supported the Cut, Cap and Balance bill, which was the legislation preferred by House Republicans, but the bill did not have the support of the Senate or the White House. 

Simpson has been a cosponsor of a balanced budget amendment to the Constitution since he came to Congress. The bill now moves to the Senate for consideration.